Fidelity Total Bond ETF (NYSEARCA:FBND) Reaches New 12-Month Low – Here’s What Happened

Fidelity Total Bond ETF (NYSEARCA:FBND)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $44.64 and last traded at $44.67, with a volume of 1249979 shares. The stock had previously closed at $44.75.

Fidelity Total Bond ETF Stock Down 0.3%

The business’s fifty day moving average is $45.14 and its 200-day moving average is $45.57. The company has a market cap of $27.03 billion, a PE ratio of 8.94 and a beta of 0.27.

Institutional Investors Weigh In On Fidelity Total Bond ETF

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Fidelity Total Bond ETF by 3.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock worth $4,256,067,000 after purchasing an additional 2,925,667 shares during the period. Morgan Stanley increased its position in Fidelity Total Bond ETF by 16.2% in the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock worth $1,598,339,000 after buying an additional 4,830,198 shares in the last quarter. Bank of America Corp DE increased its position in Fidelity Total Bond ETF by 6.3% in the first quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock worth $670,926,000 after buying an additional 871,672 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fidelity Total Bond ETF by 25.8% in the fourth quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock worth $532,882,000 after buying an additional 2,374,913 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Fidelity Total Bond ETF by 25.2% in the fourth quarter. LPL Financial LLC now owns 9,387,074 shares of the company’s stock worth $432,181,000 after buying an additional 1,887,404 shares during the period.

About Fidelity Total Bond ETF

The Fidelity Total Bond ETF (FBND) is an exchange-traded fund that is based on the Bloomberg U.S. Universal Bond index. The fund is an actively managed broad market bond fund that uses the Barclays US Universal Bond Index to guide its sector allocation and duration exposure. FBND was launched on Oct 6, 2014 and is managed by Fidelity.